SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  FORM 10-KSB/A
                                   (Mark One)

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

     For the Fiscal Year Ended December 31, 2003

                                       OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

Commission File No. 0-27609

                         MONET ENTERTAINMENT GROUP, LTD.
                 ----------------------------------------------
                 (Name of Small Business Issuer in its charter)


                Colorado                                          84-1391993
        ------------------------                             -------------------
        (State of incorporation)                                (IRS Employer
                                                             Identification No.)

    222 Milwaukee Street, Suite 304
           Denver, Colorado                                         80206
---------------------------------------                            --------
(Address of Principal Executive Office)                            Zip Code


Registrant's telephone number, including Area Code: (303) 329-3479
                                                    --------------

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:

                                  Common Stock
                                 --------------
                                (Title of Class)


Check whether the Registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12
months (or for such shorter period that the Registrant was required to file such
reports) and (2) has been subject to such filing requirements for the past 90
days.
                                 YES [X] NO [ ]


Check if disclosure of delinquent filers in response to Item 405 of Regulation
S-B is not contained in this form, and no disclosure will be contained, to the
best of the Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. [X]

The Company's revenues for the most recent fiscal year were $ 2,128.
                                                            --------
The aggregate market value of the voting stock held by non-affiliates of the
Company on March 26, 2004, was $0.00.

As of March 26, 2004 the Company had 5,000,000 issued and outstanding shares of
common stock.


<PAGE>



EXPLANATORY NOTE ON AMENDMENT

This Amendment has been filed to revise Item 7 Financial Statements such that
the audit report is issued by a qualified member of the Public Company
Accounting Oversight Board, and Item 13 Exhibits and Reports on Form 8-K to file
newly dated Financial Statement Certifications.


ITEM 7. FINANCIAL STATEMENTS








                         MONET ENTERTAINMENT GROUP, LTD.


                              Financial Statements

                                December 31, 2003

                  (with Report of Independent Auditors Thereon)









<PAGE>



                        MONET ENTERTAINMENT GROUP, LTD.
                         Index to Financial Statements




                                                                            Page
                                                                            ----

Report of Independent Auditors ...........................................   F-2

Balance Sheet at December 31, 2003 .......................................   F-3

Statements of Operations for the years ended
     December 31, 2003 and 2002 ..........................................   F-4

Statement of Changes in Shareholders' Equity for the period from
     January 1, 2002 through December 31, 2003 ...........................   F-5

Statements of Cash Flows for the years ended
     December 31, 2003 and 2002 ..........................................   F-6

Notes to Financial Statements ............................................   F-7










                                      F-1

<PAGE>






                         Report of Independent Auditors


The Board of Directors
Monet Entertainment Group, Ltd.:


We have audited the accompanying balance sheet of Monet Entertainment Group,
Ltd. as of December 31, 2003, and the related statements of operations,
shareholders' equity, and cash flows for years ended December 31, 2003 and 2002.
These financial statements are the responsibility of the Company's management.
Our responsibility is to express an opinion on these financial statements based
on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Monet Entertainment Group, Ltd.
as of December 31, 2003, and the results of its operations and its cash flows
for each of the years ended December 31, 2003 and 2002 in conformity with
generally accepted accounting principles in the United States.

As discussed in Note 4 to the financial statements, an error resulting in
overstatement of previously reported income as of December 31, 2002 was
discovered by management of the Company during the current year. Accordingly,
the 2002 financial statements have been restated to correct the error.





Cordovano and Honeck, LLP
Denver, Colorado
January 19, 2005





                                      F-2
<PAGE>


                        MONET ENTERTAINMENT GROUP, LTD.
                                 Balance Sheet
                               December 31, 2003





                                     Assets
Assets:
    Cash ...........................................................    $ 9,000
                                                                        -------

                   Total assets ....................................    $ 9,000
                                                                        =======



                      Liabilities and Shareholders' Equity

Liabilities:
    Due to related party (Note 2) ..................................    $ 4,510
                                                                        -------

                   Total liabilities ...............................      4,510
                                                                        -------

Shareholders' equity:
    Preferred stock , no par value; authorized 25,000,000 shares,
       issued and outstanding, -0- shares ..........................         --
    Common stock , no par value; authorized 25,000,000 shares,
       issued and outstanding, 5,000,000 shares ....................      9,919
    Retained loss ..................................................     (5,429)
                                                                        -------

                   Total shareholder's equity ......................      4,490
                                                                        -------

                                                                        $ 9,000
                                                                        =======




                 See accompanying notes to financial statements

                                      F-3



<PAGE>

                        MONET ENTERTAINMENT GROUP, LTD.
                            Statements of Operations



                                                      Years Ended December 31,
                                                    ---------------------------
                                                        2003            2002
                                                    -----------     -----------

Costs and expenses:
    General and administrative expenses ........    $     3,020     $     1,590
                                                    -----------     -----------

               Total expenses ..................         (3,020)         (1,590)

Other income (expense):
    Miscellaneous income (Note 3) ..............          2,051           6,174
    Interest income ............................             77              44
    Impairment loss (Note 1) ...................         (5,115)             --
                                                    -----------     -----------

               (Loss) income before
                 income taxes ..................         (6,007)          4,628

    Income tax provision .......................             --          (1,207)
                                                    -----------     -----------

               Net (loss) income ...............    $    (6,007)    $     3,421
                                                    ===========     ===========

Basic and diluted (loss) income per share ......    $    (0.001)    $     0.001
                                                    ===========     ===========

Weighted average common shares outstanding .....      5,000,000       5,000,000
                                                    ===========     ===========






                 See accompanying notes to financial statements

                                      F-4

<PAGE>
<TABLE>
<CAPTION>

                        MONET ENTERTAINMENT GROUP, LTD.
                  Statement of Changes in Shareholders' Equity



                                               Common Stock        Retained
                                          ---------------------    Earnings
                                            Shares      Amount      (Loss)       Total
                                          ---------   ---------   ----------   ---------

<S>                                       <C>         <C>         <C>          <C>
Balance at January 1, 2001 .............  5,000,000   $   9,919   $  (2,843)   $   7,076
Net income .............................         --          --       5,011        5,011
                                          ---------   ---------   ---------    ---------

Balance at December 31, 2002
    as previously reported .............  5,000,000       9,919       2,168       12,087
Adjustment for understatement
    of expenses (Note 4) ...............         --          --      (1,590)      (1,590)
                                          ---------   ---------   ---------    ---------

Balance at December 31, 2002 restated...  5,000,000       9,919         578       10,497
Net loss ...............................         --          --      (6,007)      (6,007)
                                          ---------   ---------   ---------    ---------

Balance at December 31, 2003 ...........  5,000,000   $   9,919   $  (5,429)   $   4,490
                                          =========   =========   =========    =========

</TABLE>




                 See accompanying notes to financial statements

                                      F-5
<PAGE>
<TABLE>
<CAPTION>
                        MONET ENTERTAINMENT GROUP, LTD.
                            Statements of Cash flows




                                                            Years Ended December 31,
                                                            -----------------------
                                                                2003       2002
                                                             --------     -------
<S>                                                          <C>          <C>
Cash flows from operating activities:
    Net (loss) income ...................................    $(6,007)     $ 3,421
    Adjustments to reconcile net (loss) income to net
      cash provided by operating activities:
        Impairment loss (Note 1) ........................      5,115           --
        Changes in operating liabilities:
             Accounts payable ...........................     (2,797)       2,797
                                                             -------      -------

                 Net cash (used in) provided by
                    operating activities ................     (3,689)       6,218
                                                             -------      -------

Cash flows from financing activities:
    Proceeds from related party advances (Note 2) .......      4,510           --
                                                             -------      -------

                 Net cash provided by
                    financing activities ................      4,510           --
                                                             -------      -------

                 Net change in cash and
                    cash equivalents ....................        821        6,218

Cash and cash equivalents:
    Beginning of period .................................      8,179        1,961
                                                             -------      -------

    End of period .......................................    $ 9,000      $ 8,179
                                                             =======      =======

Supplemental disclosure of cash flow information:
   Cash paid during the year for:
      Income taxes ......................................    $ 1,207      $    --
                                                             =======      =======
      Interest ..........................................    $    --      $    --
                                                             =======      =======

</TABLE>


                 See accompanying notes to financial statements

                                      F-6

<PAGE>




                         MONET ENTERTAINMENT GROUP, LTD.
                          Notes to Financial Statements


(1)  Summary of Significant Accounting Policies

Organization and Basis of Presentation

Monet Entertainment Group, Ltd. (The "Company") was formed on September 20, 1996
for the purpose of engaging in two pursuits within the entertainment industry
which involve developing a unique "completion guarantee" to assure the
completion of selected projects and developing a financing program for full
length motion pictures:

1.   Completion bonding activities are associated with a part of commercial film
     production and other entertainment production activities. A "completion
     bond" is a guarantee that should a film project go over budget or not have
     sufficient capital to complete the film; the guarantor will provide
     additional capital needed to insure completion of the project. This
     guarantee for small independent producers is unique in the entertainment
     industry. At present completion bonding has been a requirement for medium
     and large budget productions but generally unavailable for small producers.
     Lack of availability of this or a similar financial product has resulted in
     secondary producers having great difficulty in obtaining financing and has
     kept many worldwide projects from reaching theaters. It is anticipated that
     Monet's completion bonds will be reinsured with companies with sufficient
     capital resources to preclude the possibility that Monet will ever be at
     risk for capital shortages in bonded projects.

2.   Financing feature length budget films will be accomplished through the
     formation of a continuing series of joint ventures with independent
     filmmakers. Plans include taking fractional interests in selected film
     projects, thus spreading investor risk in the most advantageous manner.
     Project involvement will be financed through joint venture arrangements
     with individual investors and non-entertainment-related companies.

Until October 1, 2003, the Company had been in the development stage.

Certain accounts in the 2002 financial statements have been reclassified for
comparative purposes to conform to the presentation in the current year
financial statements.

Use of Estimates

The preparation of financial statements in accordance with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and the disclosure of
contingent assets and liabilities at the date of financial statements and the
reported amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid securities with original maturities of
three months or less when acquired to be cash equivalents. Cash equivalents at
December 31, 2003, were approximately $-0-.

Impairment of Long-Lived Assets

In accordance with Statement of Financial Accounting Standards (SFAS) No. 144,
Accounting for the Impairment or Disposal of Long-Lived Assets, the Company
evaluates their long-lived assets (excluding the full cost pool), including
related intangibles of identifiable business activities for impairment when
events or changes in circumstances indicate, in management's judgment, that the
carrying value of such assets may not be recoverable. The determination of
whether impairment has occurred is based on management's estimate of
undiscounted future cash flows attributable to the assets as compared to the
carrying value of the assets. If impairment has occurred, estimating the fair
value for the assets and recording a provision for loss if the carrying value is
greater than fair value determine the amount of the impairment recognized. For
assets identified to be disposed of in the future, the carrying value of these
assets are compared to the estimated fair value less the cost to sell to
determine if impairment is required. Until the assets are disposed of, an
estimate of the fair value is re-determined when related events or circumstances
change.


                                      F-7
<PAGE>





                         MONET ENTERTAINMENT GROUP, LTD.
                          Notes to Financial Statements



The Company has exchanged shares of its common stock for shares of Series C
common stock of Energy Acquisition Companies, Inc. (Energy), a New York
Corporation. The exchange, which was effective on October 7, 1996, (the date the
Certificate of Share Exchange was filed by the Colorado Secretary of State and
by New York Department of State), resulted in the exchange of 115,531 shares of
Energy Acquisition Companies, Inc. Series C, Par Value $0.001 Common Stock for
500,000 shares of Monet Entertainment Group, Ltd. Common Stock. The 115,531
shares of Energy Acquisition Companies, Inc. common stock received by Monet
represented less than one percent of Energy's outstanding shares. The 500,000
shares of Monet common stock surrendered to Energy represents eleven percent of
the Company's outstanding common stock, and two percent of its authorized stock.
During the year ended December 31, 2003, management determined the investment to
be impaired, since Energy is no longer in operations. An impairment loss of $115
is reflected in the accompanying financial statements.

During its initial operating period, the Company acquired an interest in a
feature-length motion picture, tentatively entitled Salvation. This interest was
conveyed by Mr. Stephen Replin, President and principal stockholder of the
Company in exchange for 2,295,000 shares of common stock. Mr. Replin, in 1996,
acquired a 25 percent interest in the film for $25,000. He conveyed 20 percent
of his interest in the film to Monet, thereby providing the Company with a five
percent ownership position. When Monet Entertainment acquired its interest in
the film in 1996, the film was incomplete. As of December 31, 2003, the film has
been completed for more than five years. Management continues efforts to sell
the film outright to a distributor, however there are no prospects of a sale. An
outright sale contemplates a fixed price agreement in which the sellers do not
retain rights to share in the profits, if any, resulting from the distribution
and promotion of the film. During the year ended December 31, 2003 management
concluded that there is no longer a realistic possibility of selling the film in
the foreseeable future and has elected to write off the cost of the investment.
An impairment loss of $5,000 is reflected in the accompanying financial
statements. As of December 31, 2003, Monet retains its ownership interest in the
film.

Income Taxes

The Company accounts for income taxes under the provisions of Statement of
Financial Accounting Standards No. 109, Accounting for Income Taxes (SFAS 109).
SFAS 109 requires recognition of deferred tax liabilities and assets for the
expected future tax consequences of events that have been included in the
financial statements or tax returns. Under this method, deferred tax liabilities
and assets are determined based on the difference between the financial
statement and tax bases of assets and liabilities using enacted tax rates in
effect for the year in which the differences are expected to reverse.

Revenue Recognition

Revenue from consulting services is recognized as the services are provided.

Financial Instruments and Concentration of Credit Risk

At December 31, 2003, the fair value of the Company's financial instruments
approximate their carrying value based on their terms and interest rates.



                                      F-8

<PAGE>


                         MONET ENTERTAINMENT GROUP, LTD.
                          Notes to Financial Statements



Earnings (loss) per Common Share

The Company reports loss per share using a dual presentation of basic and
diluted loss per share. Basic loss per share excludes the impact of common stock
equivalents. Diluted loss per share utilizes the average market price per share
when applying the treasury stock method in determining common stock equivalents.
At December 31, 2003, there were no variances between the basic and diluted loss
per share as there were no potentially dilutive securities outstanding.

(2)  Related Party Transactions

During the year, Regatta Capital Ltd., a company owned by the president of the
Company, paid for certain expenses on behalf of the Company. At December 31,
2003, the Company is indebted in the amount of $4,510 to Regatta Capital, Ltd.

(3)  Miscellaneous Income

During the years ended December 31, 2003 and 2002, the Company earned
miscellaneous consulting fees for work unrelated to its principal business
purpose. Miscellaneous income totaled $2,051 and $6,174 for the years ended
December 31, 2003 and 2002, respectively.

(4)  Prior Period Adjustment

In 2003, the Company determined that 2002 general and administrative expenses
had been understated by $1,590. To correct the accompanying financial
statements, the Company retroactively restated general and administrative
expenses in 2002 and restated 2003 beginning retained earnings by the same
amount. As a result, net income in 2002 decreased to $3,421, net of related
taxes of $876. The adjustment had no effect on earnings per share.

(5)  Income Taxes

A reconciliation of the U.S. statutory federal income tax rate to the effective
tax rate is as follows:

                                                             December 31,
                                                     -------------------------
                                                         2003          2002
                                                     -----------    ----------
U.S. statutory federal rate ......................      15.00%         15.00%
State income tax rate ............................       3.94%          3.94%
Net operating loss for which no tax
   benefit is currently available ................     -18.94%          0.00%
                                                     -----------    ----------
                                                         0.00%         18.94%
                                                     ===========    ==========


At December 31, 2003, the Company has a net operating loss carryforward for
federal income tax purposes of approximately $6,007, which was fully allowed for
in the valuation allowance of $6,007. The valuation allowance offsets the net
deferred tax asset for which there is no assurance of recovery. The change in
the valuation allowance for the year ended December 31, 2003 was $5,676. Due to
the uncertainty of the ultimate utilization of the net operating loss
carryforward, no tax benefit for losses has been provided by the Company in the
accompanying financial statements. The net operating loss carryforward will
expire through the year 2023.





                                      F-9
<PAGE>






ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits

     3.1  Articles and Bylaws (1)
     31.1 Sarbanes Oxley Section 302 Certification
     31.2 Sarbanes Oxley Section 302 Certification
     32.1 Sarbanes Oxley Section 906 Certification



(1) Incorporated by reference, and as same exhibit number, from the Company's
Registration Statement on Form 10-SB (Commission File Number 0-27609).

(b) The Company did not file any reports on Form 8-K during the quarter ending
December 31, 2003.



                                   SIGNATURES


     In accordance with Section 13 or 15(a) of the Exchange Act, the Registrant
has caused this Amended Report to be signed on its behalf by the undersigned,
thereunto duly authorized on the 24th day of January 2005.

                                       MONET ENTERTAINMENT GROUP, LTD.


                                       /s/ Stephen D. Replin
                                       -----------------------------------------
                                       Stephen D. Replin, President, Chief
                                       Executive Officer and
                                       Principal Financial Officer


     In accordance with the Exchange Act, this Report has been signed by the
following persons on behalf of the Registrant in the capacities and on the dates
indicated.


Signature                     Title                       Date
---------                     -----                       ----

/s/ Stephen D Replin
---------------------
Stephen Replin              Director                January 24, 2005


/s/ Desiree Blum
---------------------
Desiree Blum                Director                January 24, 2005







<PAGE>